Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2023

The following table provides details of comprehensive income (loss) for the nine months ended September 30, 2023 and 2022:


(In millions)	Unrecognized Pension Items		Cumulative Translation Adjustment(1)		Unrecognized (Losses) Gains on Derivative Instruments for net investment hedge		Unrecognized Gains on Derivative Instruments for cash flow hedge		Accumulated Other Comprehensive Loss, Net of Taxes






Balance at December 31, 2022	$	(126.3)	$	(837.5)	$	(18.3)	$	3.3	$	(978.8)
Other comprehensive income (loss) before reclassifications	0.4		(16.8)		(6.7)		0.8		(22.3)
Less: amounts reclassified from accumulated other comprehensive loss	2.7		—		—		(2.1)		0.6
Net current period other comprehensive income (loss)	3.1		(16.8)		(6.7)		(1.3)		(21.7)
Balance at September 30, 2023	$	(123.2)	$	(854.3)	$	(25.0)	$	2.0	$	(1,000.5)







Balance at December 31, 2021	$	(137.5)	$	(760.5)	$	(38.3)	$	2.4	$	(933.9)
Other comprehensive income (loss) before reclassifications	—		(149.0)		45.4		10.8		(92.8)
Less: amounts reclassified from accumulated other comprehensive loss	3.0		—		—		(5.8)		(2.8)
Net current period other comprehensive income (loss)	3.0		(149.0)		45.4		5.0		(95.6)
Balance at September 30, 2022	$	(134.5)	$	(909.5)	$	7.1	$	7.4	$	(1,029.5)

(1)Includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $3.2 million and $55.4 million for the nine months ended September 30, 2023 and 2022, respectively.

Detail of Amounts Reclassified from AOCL

The following table provides detail of amounts reclassified from AOCL:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2023		2022		2023		2022		Location of Amount Reclassified from AOCL
Defined benefit pension plans and other post-employment benefits:
Net settlement (cost) credit	$	—	$	—	$	(0.1)	$	0.1
Prior service cost	—		(0.1)		—		—
Actuarial losses	(1.2)		(1.4)		(3.5)		(4.1)
Total pre-tax amount	(1.2)		(1.5)		(3.6)		(4.0)		Other expense, net
Tax benefit	0.3		0.4		0.9		1.0
Net of tax	(0.9)		(1.1)		(2.7)		(3.0)


Net gains on cash flow hedging derivatives:(1)
Foreign currency forward contracts	1.0		3.1		2.9		7.4		Cost of sales

Treasury locks	—		—		0.1		0.1		Interest expense, net
Total pre-tax amount	1.0		3.1		3.0		7.5
Tax expense	(0.3)		(0.8)		(0.9)		(1.7)
Net of tax	0.7		2.3		2.1		5.8
Total reclassifications for the period	$	(0.2)	$	1.2	$	(0.6)	$	2.8

(1)These accumulated other comprehensive components are included in our derivative and hedging activities. See Note 14, “Derivatives and Hedging Activities,” for additional details.